Chola MS Swasth Parivar Insurance: Coverage, Claim & Renewal Process

Updated: 29-08-2023 05:14:22 AM

In today’s environment, no matter how hard we try to maintain a healthy lifestyle and stay at bay from health-denting situations, chances are we might find us or our family members landing in the very same spot. So, we surely can’t ascertain our landing but we can make sure that we get out of such diseases without disturbing our budget to a great extent. That’s when plans like Chola MS Swasth Parivar Insurance come in handy.

What is Chola MS Swasth Parivar Insurance

The Chola MS Swasth Parivar Health Plan is a family floater policy that offers both health and personal accident cover at an economical premium charge. The customers are provided the option to choose from two plan options viz. Pearl and Royale based on the required sum insured. The Pearl plan provides coverage for hospitalization of 4 family members with three options for the sum insured. The Royale plan provides coverage for hospitalization as well as personal accident coverage for 4 family members with sum insured options similar to the Pearl plan.

Types of Chola MS Swasth Parivar Insurance

There are two plan types available under this insurance:

• Pearl: Hospitalization Cover
• Royale: Hospitalization + Personal Accident Cover

Eligibility Criteria

The Chola MS Health Insurance from Cholamandalam has defined the eligibility criteria for the individuals who wish to purchase the Cholamandalam Chola MS Swasth Parivar Health Plan. Below mentioned are the eligibility criteria to avail this health plan:

Particulars	Details
Entry Age	Min: 18 years Max: 65 years
Entry Age for Children in Family Floater Plan	Min: 3 months Max: 26 years
Policy Tenure	1 year/ 2 years/ 3 years
Sum Assured	Rs. 3 lakh/ Rs. 4 lakh/ Rs. 5 lakh
Maximum Members	4 members including the policyholder
Policy Renewal Period	Lifetime

 

What all Chola MS Swasth Parivar Insurance covers?

• Coverage for a total of 141 day-care treatments needing hospitalization of less than 24 hours
• Pre-hospitalization charges of 30 days prior to hospitalization for consultations, medicines, etc. are covered
• Post-hospitalization charges of 90 days post-discharge from the hospital for consultations, medications, etc. are covered
• Hospitalization along with personal accident is covered on paying a slightly higher premium under the Royal plan
• Coverage for self, spouse and up to 2 children which includes death, partial disablement and total disablement

Chola MS Swasth Parivar Insurance Claim Process

• For planned hospitalization, one needs to inform Chola MS first and obtain pre-authorization which doesn’t take more than 3 hours
• For an emergency, one may get admitted right away and intimate the insurance company at the earliest.
• There is no TPA involvement
• If one gets treatment from a non-network hospital, the claim shall take 21 days to be processed from the date of submission

Cases where you can’t claim this plan

• No coverage is offered for pre-existing conditions until the completion of four continuous policy years
• No claims can be executed during the first 30 days of the policy inception except for accidental claims
• Self-inflicted injuries
• Injuries/ diseases/ illness due to a suicide attempt
• Injuries/ disease/ illness as a result of participation in strenuous sports activities
• Any treatment resulting from an act of terrorism, war, or warlike situations
• Congenital disease treatments
• Infertility treatments
• Treatments due to consumption of drugs, alcohol, etc.
• Any treatment related to AIDS
• Cosmetic treatments
• Aesthetic treatments

How long does it take to settle the claim?

Chola MS Health Insurance is known to settle claims in a quick and hassle-free manner. The company has set its record by settling claims in just 15 days from the date of claim request. The only prerequisite for this is that the documents submitted as well as the reason for claiming the money is genuine with no trace of fraudulence.

Renewal Process of Chola MS Swasth Parivar Insurance

• This plan by Chola MS offers lifelong renewal
• There is a grace period of 30 days from the date of expiry, in which one can renew their policy
• At the time of renewal, one can enhance the sum insured by submitting a written application followed by acceptance of the insurance company
• One can also port out of the policy subject to port application being sent 45 days in prior to the renewal date. This will ensure continuous policy coverage without break in insurance

Advantages of Chola MS Swasth Parivar Insurance

• 1% of the sum insured is provided for per day hospitalization allowance while for ICU admission, this percentages goes up to 1.5
• In case of accidental injuries, dental expenses shall be covered
• The transportation expenses for hospitalization are covered up to the maximum sum insured
• By submitting a new proposal form, you can enhance your sum insured while renewing your Chola MS Swasth Parivar Insurance
• The premium paid for this health insurance policy is eligible for tax deductions of up to Rs.25,000 under Section 80(D) of the Income Tax Act
• You can switch from your previous insurer to Cholamandalam Health Insurance, without losing your sum accrued after the waiting period of the policy
• Up to 55 years of the customer, no-medical check-ups are required
• With the Chola Swasth Parivar Insurance Royale Plan, you can enjoy double benefits of hospitalization coverage and personal accident coverage

FAQs

Q1. If I opt for the cashless hospitalization facility from Chola MS, will the insurer pay off all my bills?

The Chola MS Insurance Company offers cashless hospitalization facility with the network hospitals spread across the country. If you avail this facility, bills arising from treatments listed in the inclusion of the policy terms will be settled based on the sum assured in your health insurance plan.

Q2. Can I cancel this policy?

Yes. Chola MS provides 15-days of free look period during which one can cancel their admission to the policy if they don’t find it suitable enough. Also, no claims should be made during this period, otherwise, the cancellation stands void.

Q3. I am 56 years old. Do I need pre-policy medical health check-up?

Yes. You will be required to undergo the medical test, although 50% of the expenses shall be reimbursed after the acceptance of proposal. For persons of or below the age of 55 years, there is no requirement of medical check-up.